ReutersN) could face fraud claims after its Countrywide mortgage division submitted incorrect mortgage information on some government insured-loans, Bloomberg reported on Tuesday. The unit of the largest US…
Continue Reading...Mortgage fraud loan originations are estimated to decline nearly 40% in 2011 from $12-billion in damages to the US economy last year, according to real estate research firm CoreLogic….
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Michael J. Pallozzi, a former mortgage broker, was sentenced to probation for his guilty plea to wire fraud. ALBANY — A federal judge this week sentenced a former mortgage broker from Saratoga…
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Jesse Alvin Cripps Sr., 57, previously of Visalia, California, was sentenced by United States District Judge Lawrence J. O’Neill to nine years and six months in prison for an investment scheme involving the sale of fraudulent real estate investment trusts. As part of his sentence, Cripps must also pay $2 million in restitution to his victims and must forfeit the property and proceeds obtained from the scheme.
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In July 2009, the United States Attorney’s Office and the Federal Bureau of Investigation announced the formation of the Connecticut Mortgage Fraud Task Force to investigate and prosecute mortgage fraud cases…
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Royce Lee Newcomb, 49, Roseville, California, was sentenced by United States District Judge Morrison C. England Jr., to five years and 10 months in prison, to be followed by three years of supervised release for a real estate fraud scheme. The amount of restitution will be determined at a future hearing. Newcomb pleaded guilty to the charges on May 12, 2011.
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Henry J. Papale, 60, Southington, Connecticut, has been charged with two counts of wire fraud stemming from an alleged mortgage fraud scheme involving the use of another’s name and credit information.
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ABC News Foreclosure Settlement Looks Unlikely as California AG Withdraws From Talks – Mortgage Rates & Trends (blog) Attorneys General from the states of Nevada, Arizona, Illinois, Delaware, and Massachusetts…
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Mortgage Strategy The Financial Crimes Enforcement Network reports that mortgage fraud cases have surged 88% over the previous year to 29558, although many of these cases have been filed based on criminal acts…
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A Brookline man sentenced to three years in prison for conspiring to distribute cocaine today received what amounts to an additional year for his role in two mortgage fraud networks. Richard L. Veazey, 53, …
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